Axsome Therapeutics Inc (AXSM) Downgraded by Zacks Investment Research to Hold

Axsome Therapeutics Inc (NASDAQ:AXSM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Axsome Therapeutics, Inc. is a biopharmaceutical company. The company is focused on developing novel therapies for the management of pain and other central nervous system disorders. Its product candidate portfolio consists of AXS-02 and AXS-05 which are in clinical trial stage. Axsome Therapeutics, Inc. is based in New York. “

A number of other equities research analysts have also recently weighed in on the stock. Aegis reissued a “buy” rating and issued a $20.00 price target on shares of Axsome Therapeutics in a research report on Thursday. BTIG Research assumed coverage on shares of Axsome Therapeutics in a research report on Friday, May 19th. They issued a “buy” rating and a $14.00 price target for the company. Finally, Cantor Fitzgerald set a $13.00 price target on shares of Axsome Therapeutics and gave the company a “buy” rating in a research report on Wednesday, March 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $14.35.

Shares of Axsome Therapeutics (NASDAQ:AXSM) remained flat at $3.95 during mid-day trading on Friday. 125,053 shares of the company’s stock traded hands. The firm’s 50 day moving average is $3.96 and its 200-day moving average is $5.09. The company’s market cap is $93.24 million. Axsome Therapeutics has a 12-month low of $3.53 and a 12-month high of $9.11.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, May 9th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by $0.01. Equities research analysts forecast that Axsome Therapeutics will post ($1.41) EPS for the current year.

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Several institutional investors have recently modified their holdings of the stock. Royce & Associates LP acquired a new position in shares of Axsome Therapeutics during the first quarter worth approximately $3,436,000. Sphera Funds Management LTD. acquired a new position in shares of Axsome Therapeutics during the first quarter worth approximately $1,564,000. Nexthera Capital LP acquired a new position in shares of Axsome Therapeutics during the first quarter worth approximately $1,560,000. Vanguard Group Inc. increased its position in shares of Axsome Therapeutics by 23.0% in the first quarter. Vanguard Group Inc. now owns 334,745 shares of the company’s stock worth $1,305,000 after buying an additional 62,556 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Axsome Therapeutics during the first quarter worth approximately $139,000. 33.07% of the stock is currently owned by institutional investors and hedge funds.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing therapies for the management of central nervous system (CNS) disorders, including pain. It operates in the business of developing novel therapies for the management of CNS disorders segment. Its product candidate, AXS-02 (disodium zoledronate tetrahydrate), is an oral, targeted, non opioid therapeutic for chronic pain.

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